Parkside Financial Bank & Trust Grows Stock Holdings in Concentrix Co. (NASDAQ:CNXC)

Parkside Financial Bank & Trust boosted its position in Concentrix Co. (NASDAQ:CNXC) by 146.1% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 630 shares of the company’s stock after acquiring an additional 374 shares during the period. Parkside Financial Bank & Trust’s holdings in Concentrix were worth $62,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. FMR LLC grew its stake in Concentrix by 0.8% in the 3rd quarter. FMR LLC now owns 7,366,776 shares of the company’s stock worth $590,152,000 after acquiring an additional 57,849 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Concentrix by 1.7% in the 3rd quarter. Vanguard Group Inc. now owns 4,329,347 shares of the company’s stock valued at $346,824,000 after purchasing an additional 71,069 shares during the last quarter. Impactive Capital LP boosted its holdings in shares of Concentrix by 30.2% in the 3rd quarter. Impactive Capital LP now owns 3,255,172 shares of the company’s stock valued at $260,772,000 after purchasing an additional 754,566 shares during the last quarter. Fuller & Thaler Asset Management Inc. boosted its holdings in shares of Concentrix by 470.1% in the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 969,707 shares of the company’s stock valued at $77,683,000 after purchasing an additional 799,625 shares during the last quarter. Finally, AQR Capital Management LLC boosted its holdings in shares of Concentrix by 161.3% in the 3rd quarter. AQR Capital Management LLC now owns 794,300 shares of the company’s stock valued at $63,488,000 after purchasing an additional 490,361 shares during the last quarter. 90.34% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Concentrix

In other news, CEO Christopher A. Caldwell purchased 900 shares of the company’s stock in a transaction that occurred on Friday, April 19th. The shares were purchased at an average price of $54.59 per share, with a total value of $49,131.00. Following the purchase, the chief executive officer now directly owns 239,128 shares of the company’s stock, valued at approximately $13,053,997.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last 90 days, insiders have acquired 1,879 shares of company stock worth $116,400. 3.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Bank of America reiterated an “underperform” rating and issued a $60.00 price target (down previously from $85.00) on shares of Concentrix in a report on Wednesday, March 27th. Barrington Research decreased their price target on shares of Concentrix from $121.00 to $84.00 and set an “outperform” rating on the stock in a report on Wednesday, March 27th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Concentrix presently has a consensus rating of “Hold” and a consensus target price of $82.25.

Concentrix Stock Performance

NASDAQ:CNXC opened at $55.01 on Friday. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 1.23. The firm has a market capitalization of $3.63 billion, a price-to-earnings ratio of 11.34, a PEG ratio of 0.64 and a beta of 0.48. The firm’s fifty day simple moving average is $64.81 and its 200 day simple moving average is $80.96. Concentrix Co. has a twelve month low of $54.16 and a twelve month high of $106.10.

Concentrix (NASDAQ:CNXC) last posted its earnings results on Tuesday, March 26th. The company reported $2.33 earnings per share for the quarter, missing the consensus estimate of $2.36 by ($0.03). The business had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.38 billion. Concentrix had a net margin of 3.53% and a return on equity of 17.70%. As a group, equities research analysts expect that Concentrix Co. will post 11.03 earnings per share for the current fiscal year.

Concentrix Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 7th. Investors of record on Friday, April 26th will be issued a dividend of $0.303 per share. This is a positive change from Concentrix’s previous quarterly dividend of $0.30. The ex-dividend date is Thursday, April 25th. This represents a $1.21 annualized dividend and a dividend yield of 2.20%. Concentrix’s payout ratio is presently 24.95%.

Concentrix Company Profile

Concentrix Corporation engages in the provision of technology-infused customer experience (CX) solutions worldwide. The company provides CX process optimization, technology innovation, front- and back-office automation, analytics, and business transformation services, across various channels of communication, such as voice, chat, email, social media, asynchronous messaging, and custom applications.